The latest Underbelly series is being produced by production company Screentime for the Nine Network, which will broadcast the series next year. Screentime executive chairman Des Monaghan said Squizzy was to the 20th century what Ned Kelly was to the 19th century.

“Squizzy loved women and they loved him which may explain why he became such a legendary figure and his story endures," Monaghan said in a statement.

Series producers Peter Gawler and Elisa Argenzio will again oversee the production, with directors David Caesar, Andrew Prowse, Karl Zwicky and Shawn Seet. Regular Underbelly writers Felicity Packard, Jeff Truman and Peter Gawler, have been joined by Adam Todd and Andy Muir.

International production conglomerate Banijay Group recently acquired a majority stake in Screentime, which posted a 12.7 per cent rise in annual net profit to $1.975 million last financial year, according to documents filed with the Australian Securities and Investments Commission.